Reliance Industries Approves Up to Rs 15,000 Crore NCD Raise
The board passed an enabling resolution for listed NCDs on private placement at its 30 October 2026 meeting.
Key Takeaways
- Reliance Industries' board approved raising up to Rs 15,000 crore through NCDs.
- The NCDs will be listed and redeemable, secured or unsecured, on private placement.
- They can be issued in one or more tranches.
- The board decided at its meeting on 30 October 2026.
- Group NCDs outstanding on 30 September 2026 were Rs 39,389 crore, of which Rs 20,000 crore are secured.
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Reliance Industries has received board approval to raise up to Rs 15,000 crore through non-convertible debentures (NCDs). The board passed an enabling resolution at its meeting on 30 October 2026, and the company disclosed the decision in a stock exchange filing.
The debentures will be listed and redeemable, and may be secured or unsecured. They will be issued on a private placement basis, in one or more tranches. The same board meeting also approved the company's results for the quarter and half year ended 30 September 2026.
Reliance Industries NCD approval at a glance
| Detail | Value |
|---|---|
| Company | Reliance Industries Limited |
| Approved by | Board of directors, meeting of 30 October 2026 |
| Amount | Up to Rs 15,000 crore |
| Instrument | Listed, redeemable non-convertible debentures (secured or unsecured) |
| Mode | Private placement |
| Issue structure | One or more tranches |
How much NCD debt Reliance already has outstanding
In its results filing, Reliance said the group's outstanding NCDs as on 30 September 2026 were Rs 39,389 crore, before netting off prepaid finance charges and the fair valuation impact. Of that, Rs 20,000 crore are secured NCDs.
The company also said that during the July to September quarter the group issued listed unsecured redeemable NCDs of Rs 12,000 crore (PPD Series Q) on a private placement basis.
| When | What happened |
|---|---|
| July to September 2026 | The group issued Rs 12,000 crore of listed unsecured redeemable NCDs (PPD Series Q) on private placement |
| 30 September 2026 | Group NCDs outstanding stood at Rs 39,389 crore, of which Rs 20,000 crore were secured |
| 27 October 2026 | Reliance told the stock exchanges that its board would consider raising funds through listed NCDs on private placement |
| 30 October 2026 | Board approved raising up to Rs 15,000 crore through NCDs |
Where Reliance's NCD programme stands after the board approval
The board has authorised up to Rs 15,000 crore of listed NCDs, to be issued in one or more tranches on a private placement basis. The group's outstanding NCDs were Rs 39,389 crore on 30 September 2026, of which Rs 20,000 crore were secured.
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Frequently Asked Questions
What did the Reliance Industries board approve on 30 October 2026?
How much can Reliance Industries raise through NCDs?
What kind of debentures will Reliance Industries issue?
How will Reliance Industries issue the NCDs?
What is a non-convertible debenture?
When did the Reliance Industries board approve the NCD raise?
What else did the Reliance Industries board approve at the same meeting?
How much NCD debt does Reliance Industries have outstanding?
How much of Reliance Industries' outstanding NCDs are secured?
How many NCDs did Reliance Industries issue in the July to September 2026 quarter?
Did Reliance Industries tell the exchanges about the NCD plan before the board meeting?
Has Reliance Industries set a schedule for the NCD tranches?
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